Acrivon Therapeutics (NASDAQ:ACRV) CEO Peter Blume-Jensen Sells 14,036 Shares

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) CEO Peter Blume-Jensen sold 14,036 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $2.21, for a total value of $31,019.56. Following the completion of the sale, the chief executive officer owned 2,230,052 shares in the company, valued at approximately $4,928,414.92. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Peter Blume-Jensen also recently made the following trade(s):

• On Tuesday, August 18th, Peter Blume-Jensen sold 484 shares of Acrivon Therapeutics stock. The stock was sold at an average price of $2.01, for a total value of $972.84.
• On Tuesday, August 18th, Peter Blume-Jensen sold 1,229 shares of Acrivon Therapeutics stock. The shares were sold at an average price of $2.01, for a total value of $2,470.29.

Acrivon Therapeutics Stock Up 3.4%

ACRV stock opened at $2.15 on Friday. The business has a 50 day moving average price of $1.81 and a 200 day moving average price of $1.70. The stock has a market cap of $92.13 million, a price-to-earnings ratio of -1.14 and a beta of 1.85. Acrivon Therapeutics, Inc. has a fifty-two week low of $1.27 and a fifty-two week high of $3.56.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. As a group, sell-side analysts anticipate that Acrivon Therapeutics, Inc. will post -1.8 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Acrivon Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Acrivon Therapeutics has an average rating of “Moderate Buy” and an average target price of $13.50.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors have recently modified their holdings of the business. Focus Partners Wealth acquired a new stake in Acrivon Therapeutics during the 3rd quarter worth $36,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Acrivon Therapeutics during the fourth quarter worth approximately $40,000. Vermillion & White Wealth Management Group LLC purchased a new position in Acrivon Therapeutics during the 4th quarter worth $44,000. Quadrature Capital Ltd acquired a new position in shares of Acrivon Therapeutics during the fourth quarter worth about $50,000. Finally, Invesco Ltd. purchased a new position in Acrivon Therapeutics during the first quarter worth about $72,000. 71.62% of the stock is owned by institutional investors and hedge funds.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics (NASDAQ:ACRV) is a clinical-stage biotechnology company focused on the discovery and development of stapled peptide therapeutics for the treatment of RAS-driven cancers. Its proprietary platform is designed to enhance the stability, cell permeability and target specificity of peptide molecules, enabling the disruption of protein–protein interactions that are traditionally challenging to inhibit with small-molecule drugs or biologics.

The company’s lead development candidate is a hydrocarbon-stapled peptide selectively targeting the KRAS G12C mutation, currently in early clinical trials.